posted by Debra Unplugged on Nov 3
If you wanted to be successful and make money; how about a lot of money, would you do the same thing you have always done? No, you wouldn’t ! Because wouldn’t that just get you the same results? Albert Einstein called this process Insanity, doing the same thing over and over again and expecting different results. If you want to be successful and you want to make a whole lot of money, Read the rest of this entry »
posted by Debra Unplugged on Nov 2
Now that the economy is back in the spotlight, with gasoline prices increasing, big companies announcing layoffs, and prices rising across the board, the time is here to tighten our belts and squeeze that marketing dollar until it squeals. Believe me the rhetoric that the economy is getting better is just that political rhetoric, and isn’t coming from the business community in the trenches. We know better!
posted by Debra Unplugged on Nov 1
Next Step “ Develop The Concept "
The next stage in the product development process is the development of the concept. Usually, the initial step of this stage involves the definition of the requirements of the clients. Then, the transformation into some structure of channel or model service follows. The idea is to translate the recognized customer needs into probable response to these needs. In the actual application, the development and design of the product will carry on into subsequent processes as the product is polished and can be released to the marketplace.
Test And Finalize
The testing and finalization of the concept then follows. This stage involves a controlled release of a product for manufacturing; support and sales organizations are then done to test and improve the product. In this process, the company would determine whether the concept was erroneous, the target market is frail, and the product must discontinue considering the anticipated cost of releasing it into the market.
Product Launch
When the product has been approved in the testing stage, it is now ready for its full launch. This is perhaps one of the most arduous and costly stages. This includes the development of the market, the right channels, the support of the product, and the building up of the volume of production. Finally, management of the life cycle must be worked out. Usually, it is not recommended to handle a product that is waning in the market, or lengthen its life with a kicker. When this action is not properly planned, the call for the development of new products is frequently prompted by declining sales. If this happens, the company may not have ample time to have new products developed.
Product development may be defined as the process of conceptualizing and marketing a product. And this product can be something new to the market or something new to an individual company, or it could be a product which already exists and has just undergone improvement.
Get Creative
In product development, creativity is a valuable plus point. The company must be imaginative in coming up with ideas for the business. It must be able to develop fresh ways of attacking marketing problems. The company must secure these ideas and assess if they are worth spending more time and energy in.When ideas are already available, the next segment in the process is to define the concept. This is how the company turns the idea into an actual business opportunity with the projection of required investment and estimated return. The company must set specific standards and purpose to base from to decide whether it must pursue the investment. Questions are, what make the idea technically feasible? What are its effect to existing products? How will it affect the market competition? These must be answered.
Why is product development important?
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